What is Equity Release?
Equity release schemes offer the potential for you to release tax-free cash from your home which could help you boost your finances in retirement. Equity Release is available via a Lifetime Mortgage or Home Reversion Plans both of which offer you the opportunity to:
- release equity from your home
- spend the cash as you wish
- with most schemes you make no monthly repayments
- stay in your home for life or until the last surviving spouse goes into long term residential care
Reasons to release equity
Pacific Financial Services (North West) are a firm of independent mortgage advisers advising on equity release schemes.
We've helped many people to make the most of their finances in retirement by releasing equity from their homes with an equity release scheme.
Many of them took the opportunity to:
- improve or maintain their lifestyle
- make some home/garden improvements
- buy a new car
- take regular holidays and short breaks
- treat family and friends
- reduce inheritance tax liability (The Financial Services Authority does not regulate taxation and trust advice.)
To find out how much you could release please contact us.
How to find the right equity release scheme
There are currently over 40 equity release schemes to choose from, it's important to choose the correct scheme for your retirement needs.
We are here to help. We search the equity release market on your behalf and offer independent advice designed to meet your individual needs and circumstances. We offer a guide through the different options available to you and help you decide if an Equity Release scheme is right for you.
If you are considering taking out an equity release plan, there are key points to consider which you should read through carefully.
Home reversion plans and lifetime mortgages are complex products. To understand the features and risks, ask for a personalised illustration.
There will be a fee for Equity Release advice. The precise amount will depend upon your circumstances, but we estimate it will be £595.00. You have the option to pay us a fee and receive any commission which we are paid by the lender/company that buys your home. If you choose this option, we estimate that the fee will be £995.00.
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